Civic Intelligence

Lagrange County Rural Electric Membership Corporation

EIN 35-0457973 • 501(c)12 • Lagrange, IN

Profile

As a member owned, non-profit service organization, our mission is to provide efficient and reliable electric service to our members.

1995 E US Highway 20Lagrange, IN 46761

www.lagrangeremc.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

0.71x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

2.29x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Net Margin

53rd percentile

1.2%

Higher net margin than 53% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

16th percentile

$197,176

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

501(c)12 • $50M-$100M nonprofits • Source year 2024

Asset Growth

74th percentile

7.0%

Faster asset growth than 74% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

91st percentile

15%

Faster revenue growth than 91% of similar nonprofits.

501(c)12 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$59,565,197

Up $3,878,794 (+7.0%) from 2023

Liabilities

Up

$42,067,726

Up $3,659,902 (+9.5%) from 2023

Net Assets

Up

$17,497,471

Up $218,892 (+1.3%) from 2023

Operations
Liabilities / Revenue88th percentileNet Margin53rd percentile

Revenue

Up

$18,399,624

Up $2,379,563 (+15%) from 2023

Expenses

Up

$18,173,064

Up $1,825,697 (+11%) from 2023

Net Income

Up

$226,560

Up $553,866 (+169%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth74th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2020: $24,864,511Liabilities 2020: $8,322,870Net Assets 2020: $16,541,6412020Assets 2021: $33,814,139Liabilities 2021: $16,910,753Net Assets 2021: $16,903,3862021Assets 2022: $50,097,597Liabilities 2022: $32,649,427Net Assets 2022: $17,448,1702022Assets 2023: $55,686,403Liabilities 2023: $38,407,824Net Assets 2023: $17,278,5792023Assets 2024: $59,565,197Liabilities 2024: $42,067,726Net Assets 2024: $17,497,4712024

Highlighted filing

2024

Assets$59,565,197
Liabilities$42,067,726
Net Assets$17,497,471
Open 2024 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2020: $12,893,305Expenses 2020: $12,757,761Net Income 2020: $135,5442020Revenue 2021: $13,085,399Expenses 2021: $12,856,643Net Income 2021: $228,7562021Revenue 2022: $14,349,360Expenses 2022: $14,088,193Net Income 2022: $261,1672022Revenue 2023: $16,020,061Expenses 2023: $16,347,367Net Income 2023: -$327,3062023Revenue 2024: $18,399,624Expenses 2024: $18,173,064Net Income 2024: $226,5602024

Highlighted filing

2024

Revenue$18,399,624
Expenses$18,173,064
Net Income$226,560
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$59,565,197
Liabilities
$42,067,726
Net assets
$17,497,471
Revenue
$18,399,624
Expenses
$18,173,064
Net income
$226,560
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.6$42.1$17.5$18.4$18.2$0.23
2023Detailed filing. Detailed filing data is available for this year.$55.7$38.4$17.3$16.0$16.3$0.33
2022Detailed filing. Detailed filing data is available for this year.$50.1$32.6$17.4$14.3$14.1$0.26
2021Detailed filing. Detailed filing data is available for this year.$33.8$16.9$16.9$13.1$12.9$0.23
2020Detailed filing. Detailed filing data is available for this year.$24.9$8.32$16.5$12.9$12.8$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 14, 2025
Return Version
2024v5.0
Gross Receipts
$18,430,868
Mission and Program Overview

Mission

As a member owned, non-profit service organization, our mission is to provide efficient and reliable electric service to our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$44,170,112$47,905,290▲ $3,735,178
Rtn Earn Endowment Incm Other Fnds$15,686,865$15,806,419▲ $119,554
Investments Other Securities$6,146,758$6,744,365▲ $597,607
Inventories for Sale or Use$3,471,705$2,307,403▼ $1,164,302
Pd in Cap Srpls Land Bldg Eqp Fund$1,591,714$1,691,052▲ $99,338
Accounts Receivable$1,095,451$1,289,849▲ $194,398
Cash and Non-Interest-Bearing Accounts$598,363$1,060,039▲ $461,676
Investments Program Related$14,151$14,681▲ $530
Total Assets$55,686,403$59,565,197▲ $3,878,794
Other Assets Total$189,863$243,570▲ $53,707
Liabilities
Mortgage Notes Payable Secured by Investment Property$32,259,757$31,513,595▼ $746,162
Accounts Payable and Accrued Expenses$6,012,776$10,424,484▲ $4,411,708
Other Liabilities$135,291$129,647▼ $5,644
Total Liabilities$38,407,824$42,067,726▲ $3,659,902
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,278,579$17,497,471▲ $218,892
Total Liabilities and Net Assets / Fund Balance$55,686,403$59,565,197▲ $3,878,794

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$44,305,158$16,986,446$61,291,604
Buildings$3,212,529$1,528,338$4,740,867
Land$387,603-$387,603
Other Securities$70,040--
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark LeuCEOFT$193,276$3,900$197,176
Nathan a YoderEmployeeFT$114,887-$114,887
Michael a PetersonEmployeeFT$112,007-$112,007
Brandon AltimusEmployeeFT$108,742-$108,742
Christopher D MynhierEmployeeFT$107,801-$107,801
Brittany SamsEmployeeFT$105,374-$105,374
Terry HolsingerVice PresidePT$14,550-$14,550
Roger DomerPresident-$14,500-$14,500
C Shane RaslerDirector-$13,825-$13,825
Cliff HibbsDirector-$13,550-$13,550
Jeff BrillSecretary/tr-$13,300-$13,300
Michael HuppenthalDirector-$13,100-$13,100
Tony BontragerDirector-$12,550-$12,550
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$17,301,310
Investment Income
$52,469
Other Revenue
$1,045,845
Change in Net Assets
$226,560

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,399,624
Total Revenue per Audited Statements
$18,399,624
Total Revenue per Form 990
$18,399,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,208,749
Salaries, Compensation, and Employee Benefits$3,915,519
Grants and Similar Amounts Paid$7,069
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,456,587--$2,456,587
Depreciation Depletion$2,149,849--$2,149,849
Interest$1,992,201--$1,992,201
Other Employee Benefits$530,066--$530,066
Pension Plan Contributions$422,022--$422,022
Current Officers, Directors, Trustees, and Key Employees$292,551--$292,551
Payroll Taxes$214,293--$214,293
Information Technology$197,059--$197,059
Other Expenses$178,142--$178,142
Insurance$131,981--$131,981
Office Expenses$121,315--$121,315
Advertising$85,101--$85,101
All Other Expenses$81,003--$81,003
Fees for Services Legal$69,629--$69,629
Conferences and Meetings$69,607--$69,607
Benefits to Members$41,727--$41,727
Fees for Services Accounting$18,750--$18,750
Fees for Services Other$14,930--$14,930
Grants to Domestic Orgs$7,069--$7,069
Total Functional Expenses$18,173,064$0$0$18,173,064

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$18,173,064
Total Expenses per Audited Statements$18,173,064
Total Expenses per Form 990$18,173,064
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$2,000
Section 527 Activity Spending$2,000
Total Exempt Function Spending$2,000

Section 527 Organizations

OrganizationLocationAmount
35-1998087Indianapolis, IN$2,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Compensated Absences$127,228
Patronage Capital Payable$2,419
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“The remc's territory is divided up into districts and there is one board member that represents each district. The board is elected by the members of the remc.”

Form 990, Page 6, Part VI, Line 7B

“Decisions of the governing body are subject to the members' approval and are reviewed at the annual meeeting.”

Form 990, Page 6, Part VI, Line 11B

“The 990 is reviewed by the board at their monthly meeting prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The board of directors as well as the officers review the conflict of interest policy and employees' relationships annually to verify there is not a breach of policy. The board completes and signs the statement of disclosure annually.”

Form 990, Page 6, Part VI, Line 15A

“Salaries are evaluated against the nreca national compensation survey to determine annual raises.”

Form 990, Page 6, Part VI, Line 15B

“Salaries are evaluated against the nreca national compensation survey to determine annual raises.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are available upon request by members. They are all located at the remc headquarters.”

Filing and Contact Details

Filer

Filer Name
Lagrange County Rural Electric
EIN
35-0457973
Phone
2604637165
Address
1995 E US HIGHWAY 20, LAGRANGE, IN 46761

Signing Officer

Name
Mark Leu
Title
CEO
Phone
2604637165
Signed
2025-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Leu
Formed
1936
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
33

Preparer

Firm
Leonard J Andorfer & Co Llp
Address
110 W BERRY STREET STE 2202, FORT WAYNE, IN 46802-2311
Preparer
Mark J Andorfer CPA
Phone
2604239405
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Unrecognized net periodic post-retirement benefit -7,668”

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation is exempt from federal income tax under section 501(c)(12) of the internal revenue code. The corporation has adopted fasb asc 740-10-25, and determined no material unrecognized tax benefits or liabilities exist as of december 31, 2024. The adoption of fasb asc 740-10-25 did not impact the corporation's financial position or results of operations. If applicable, the corporation will recognize interest and penalties related to underpayment of income taxes as income tax expense. As of december 31, 2024, the corporation had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The corporation does not anticipate any significant changes to unrecognized income tax benefits over the next year. The corporation is generally no longer subject to examination by federal and state agencies for years before 2021.”

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IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt08888 KEYSTONE CROSSING STE 1600
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/CityNm0INDIANAPOLIS
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IRS990ScheduleD/OtherSecuritiesGrp/Desc4FEDERATED INSURANCE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE CORPORATION HAS ADOPTED FASB ASC 740-10-25, AND DETERMINED NO MATERIAL UNRECOGNIZED TAX BENEFITS OR LIABILITIES EXIST AS OF DECEMBER 31, 2024. THE ADOPTION OF FASB ASC 740-10-25 DID NOT IMPACT THE CORPORATION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. IF APPLICABLE, THE CORPORATION WILL RECOGNIZE INTEREST AND PENALTIES RELATED TO UNDERPAYMENT OF INCOME TAXES AS INCOME TAX EXPENSE. AS OF DECEMBER 31, 2024, THE CORPORATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. THE CORPORATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR. THE CORPORATION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY FEDERAL AND STATE AGENCIES FOR YEARS BEFORE 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE REMC'S TERRITORY IS DIVIDED UP INTO DISTRICTS AND THERE IS ONE BOARD MEMBER THAT REPRESENTS EACH DISTRICT. THE BOARD IS ELECTED BY THE MEMBERS OF THE REMC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO THE MEMBERS' APPROVAL AND ARE REVIEWED AT THE ANNUAL MEEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS REVIEWED BY THE BOARD AT THEIR MONTHLY MEETING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS AS WELL AS THE OFFICERS REVIEW THE CONFLICT OF INTEREST POLICY AND EMPLOYEES' RELATIONSHIPS ANNUALLY TO VERIFY THERE IS NOT A BREACH OF POLICY. THE BOARD COMPLETES AND SIGNS THE STATEMENT OF DISCLOSURE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SALARIES ARE EVALUATED AGAINST THE NRECA NATIONAL COMPENSATION SURVEY TO DETERMINE ANNUAL RAISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARIES ARE EVALUATED AGAINST THE NRECA NATIONAL COMPENSATION SURVEY TO DETERMINE ANNUAL RAISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST BY MEMBERS. THEY ARE ALL LOCATED AT THE REMC HEADQUARTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7UNRECOGNIZED NET PERIODIC POST-RETIREMENT BENEFIT -7,668
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C

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